Summary

Since 2020, the global pharmaceutical market has seen a significant increase in valuation, reaching approximately $1.27 trillion by the end of 2020, marking substantial growth from $390 billion in 2001. The Italian pharmacy market experienced a slight contraction during the pandemic by -1.7%, but projections for 2022 anticipated exceeding 2019 sales figures, reaching above $30 billion. The number of pharmacies in Italy expanded, with about 19,100 outlets, despite declining individual pharmacy profitability. The pandemic also significantly boosted online pharmacy purchases, with Italian e-commerce accelerating by 66% in 2020 relative to 2019’s value of approximately 234 million euros. Despite a modest share of the total market, the future of e-commerce appears promising. Italy hosts key global pharmaceutical groups, and the industry's commitment to research has strengthened, exemplified by an investment of €1.6 billion in R&D in 2020, marking a 6% increase from 2019. Italian pharmacies have engaged actively in the fight against COVID-19, with a sizeable number offering vaccination services. The annual number of pharmacy graduates in Italy aligns with a stabilized workforce over the past five years, and the majority of pharmacy graduates find employment across various sectors, with 88,000 individuals currently employed in the industry. The rise of parapharmacies continues, with 4163 units in 2018, a significant increase since 2008. Online commerce in the pharmaceutical sector has seen double-digit growth, with sales expected to reach €315 million in 2020, while the Italian market for COVID-19-related products soared, with sales of tests alone totaling €176.9 million in the initial weeks of 2022. Lastly, the cosmetics segment within pharmacies underwent a 3.5% decline in 2020, but still managed a turnover of 1.8 billion euros, indicating an evolving landscape of demand influenced by the pandemic..Title: Italian Pharmacy Market Dynamics and Consumer Behavior Post-Covid Following the impact of the Covid-19 pandemic, the Italian pharmacy market witnessed a series of significant transformations influenced by changes in consumer behavior, regulations, and economic conditions. The country, which is known for hosting some of the prominent global pharmaceutical groups like Menarini and Chiesi, saw a slight contraction in the pharmacy market during the pandemic, with a decline of approximately 1.7%. However, expectations for the market rebounded with projections for sales to exceed $30 billion, potentially outpacing the sales figures recorded in 2019. Despite the presence of around 19,100 pharmacies distributed across Italy, there has been a noticeable decline in the average profitability, attributed partly to the increasing number of new pharmacies opening each year— about 300. This surge has led to a narrower individual pharmacy's catchment area by roughly 7% over a period of three years. The pandemic also reshaped the digital landscape for pharmacies, considerably boosting online pharmacy sales. In Italy, the pharmacy e-commerce sector surged by 66% in 2020 compared to its 2019 figures when it was valued at approximately between 200 and 250 million euros. While the online segment accounts for a slender slice of the total market, its positive trajectory suggests a promising future. Consumer trends in Italy highlight an increased consumption of pharmaceutical products, with Italy demonstrating one of the few consistent upward consumption trends amongst European countries. Prescription drugs, especially those classified under Bands A and C, retain the lion's share in pharmacy turnover, reaching close to 14 billion euros in 2020. The demand for self-medication products also reflected a significant proportion of the turnover, amounting to approximately 9%. Parallel to the domestic market, trade flows in pharmaceutical products presented a wholesome picture. Italy's pharmaceutical product imports and exports registered in the millions, with the United States emerging as the leading export destination for Italian pharmaceuticals, holding almost 40% of the total exports. Notably, the Italian pharmaceutical industry has increasingly invested in research, particularly highlighted by the Covid-19 pandemic. In 2020 alone, pharmaceutical companies injected €1.6 billion into R&D activities. This commitment to innovation and development positions Italy as a formidable player in the European pharmaceutical landscape, reflecting in the substantial number of biomedical research publications and patents filed by Italian companies. On the distribution front, pharmacies remain the predominant channel for pharmaceutical sales, both for prescription and over-the-counter (OTC) drugs, boasting a turnover of approximately .### Leading Forces in the Italian Pharmaceutical Landscape The Italian pharmaceutical market is shaped by a number of prominent companies that have established a strong presence both domestically and internationally. These companies are not only fundamental players in the Italian market but also contribute significantly to the global pharmaceutical industry through their research, production, and innovation efforts. Below are the key actors that have been instrumental in driving progress in the pharmaceutical sector in Italy. #### Menarini Group Established in 1886 in Florence, the Menarini Group has grown to become the leading Italian pharmaceutical company in the world, with a presence across over 140 countries. Renowned for its commitment to research and development, Menarini is dedicated to producing a wide range of pharmaceutical products, focusing on various therapeutic areas and investing substantially in the advancement of medical science. #### Chiesi Farmaceutici Chiesi Farmaceutici, headquartered in Parma, has made its mark as a global leader in the pharmaceutical industry. With a deep-rooted heritage dating back to 1935, Chiesi is a research-focused company that specializes in developing innovative respiratory, neonatology, rare disease, and special care medicine solutions that cater to the needs of healthcare providers and patients alike. #### Bracco Imaging As a subsidiary of the Bracco Group, Bracco Imaging specializes in the diagnostic imaging sector. The company has established itself as a pioneer in the production of contrast agents and advanced imaging modalities. Bracco's commitment to excellence in imaging diagnostics aids physicians in offering accurate and early diagnoses, enhancing patient outcomes. #### Recordati Recordati, founded in 1926, is an international pharmaceutical group with a strong dedication to the research, development, manufacturing, and marketing of pharmaceuticals. They have a robust portfolio of original and generic medications that address a multitude of health conditions, aiming to improve the quality of life for patients globally. #### Alfasigma Alfasigma stands as a major pharmaceutical company focusing on research, development, and the commercialization of prescription drugs. The company is particularly committed to gastrointestinal and vascular diseases, providing innovative healthcare solutions and therapeutic approaches to these common ailments. #### Angelini Pharma Angelini Pharma is a key player with a strong international footprint, particularly known for its extensive work in the fields of mental health, gynecology, and consumer health. Angelini Pharma is dedicated to improving patients' lives through the continuous pursuit of innovation and the development of effective therapeutic solutions. #### Italfarmaco With operations spanning the globe, Italfarmaco is a dynamic and prominent

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Summary and extracts

1 Market Overview

1.1 Definition and presentation

A pharmacy is the store where drugs and other products and items that are used for the treatment of ailments and diseases are sold, such as syringes, band-aids, diapers, disinfectants, thermometers, dietary foods, food supplements, etc.; sometimes a laboratory is attached to the store where medicines are produced that the pharmacist himself prepares on the doctor's instructions. The global pharmaceutical market has experienced significant growth in recent years. At the end of 2020, the total global pharmaceutical market was valued at about $1.27 trillion.

This represents a significant increase since 2001, when the market was worth $390 billion. The Italian pharmacy market contracted slightly during the pandemic period (-1.7 %), but the outlook is positive, with projected 2022 sales greater than 2019 sales of more than $30 billion. There are currently about 19,100 pharmacies in Italy. The average profitability of these is declining, but the figure has also been affected by the opening of about 300 new pharmacies per year in recent years. This has resulted in an average reduction in the individual pharmacy's catchment area of 7 % over the past three years. This is in contrast to the rest of Europe; in fact, the Belpaese is currently the only country to increase outlets.

The pandemic has also had a strong impact on online pharmacy purchases. In fact, while in 2019 the value of pharmacy e-commerce in Italy was about 234 million euros, in 2020 there was an acceleration of 66 %. This is indeed a small share compared to the total market, but e-commerce represents a positive outlook for the future.

Italy is also home to some of the most important global pharmaceutical groups, including Menarini, Chiesi, Bracco, Recordati, Alfasigma, Angelini, Italfarmaco and many others.

1.2 The global pharmaceutical market is growing

The pharmaceutical industry in the world:

Every year, the French syndicate Leem (***) publishes an economic report. In the Economic Report-Edition ****, the syndicate reports that in **** the market for pharmaceuticals at production prices reached $* *** billion in sales, * % more than in ****. The market size is distributed around the world according to the chart ...

1.3 Weak domestic market growth

The pharmacy market in Italy is worth **.** billion euros in ****.

Turnover generated by pharmacies Italy, ****-****, in billion euros Source: ****

This graph shows the evolution over the last decade of the turnover of the pharmacy market in Italy. It can be seen that the value has remained fairly stable all the ...

1.4 Drug trade flows

In this part, the trade flows created by pharmacies will be analyzed, so it is about pharmaceuticals.

Value of trade in pharmaceutical products Italy, ****-****, in millions of USD Source: ****

In the graph above you can see the evolution of trade (***) between Italy and the world. The graph does not take ...

1.5 Post Covid-19: industry increasingly invested in research

Data published by Efpia, the European Federation of the Pharmaceutical Industry, tell of a leading Italy in the EU by value of production. Even before the pandemic, the beautiful country was among the top European countries in terms of research spending and investment, and this position has strengthened in the last ...

2 Demand analysis

2.1 Italian consumption on the rise

Italians are consuming more and more pharmaceutical products; it is a growing trend that has been established since ****. In Europe, Italy is not a large consumer of pharmaceuticals, but it is one of the few countries with a growing trend of consumption.

Change in per capita consumption of pharmaceuticals France, Germany, ...

2.2 Focus Covid-19 and products sold in pharmacies

The Covid-** pandemic greatly impacted the population, who in the early ****s and chased also during **** and **** had to protect themselves and buy various hygienic and other related products. These are in particular:

Masks Hand sanitizers Tests against Covid-**

Semi-annual sales of products against Covid-** Italy, ****-****, in millions of euros Source: ...

2.3 Cosmetics sold in pharmacies

The value of cosmetics sold in pharmacies in **** contracted by *.* %, with generated sales of *.* billion euros. Since February ****, the channel has also benefited from the possibility of remaining open so that overtaking has occurred, in the ranking of sales by channel, compared to perfumery, which, on the other hand, has suffered ...

2.4 Italian regions that consume the most

From November **** to October ****, an average pharmacy in Italy will issue about **.* thousand receipts. This statistic breaks this down by region, showing the average number of receipts issued by an individual pharmacy for each administrative area. Campania is the region where pharmacies issued the most receipts in the ** months under consideration, ...

3 Market structure

3.1 Global and national leaders in the industry

Top ** global pharmaceutical companies World, ****, in billions of USD Source: ****

The chart above shows the top ** global companies in the industry. We can see that there are no Italian companies in this list, despite the notoriety of Abiogen Pharma, Alfasigma, Angelini, Chiesi or Menarini. However, thanks to major Italian investments in ...

3.2 Distribution channels

The distribution channels of the pharmacy market are:

Pharmacies: Pharmacies are the only commercial establishments authorized to sell ethical medicines, and they also sell Sop-Otc and extra-drugs in the presence of a pharmacist. To open a pharmacy, it is necessary to obtain a specific license, the supply of which is restricted ...

3.3 Italian pharmacies

The relationship with the public:

Here are some facts about pharmacies in Italy in the year ****:

Total number of pharmacies: **,*** Number of citizens who visit pharmacies daily: * million Number of citizens requesting pharmaceutical service at home: *** per month Number of pharmacies open at night: * ***

[***]

Pharmacies in the territory:

This map ...

3.4 The employment of pharmacies

Annual pharmacy undergraduates in the last decade were:

Pharmacy graduates Italy, ****-****, in whole numbers Source: ****

Pharmacists working in private pharmacies are covered by a specific labor contract, the "National Collective Bargaining Agreement for Private Pharmacy Employees," signed by the Pharmacy Employees' Unions and Federfarma. In the past decade, the number ...

4 Supply analysis

4.1 The prices charged in the Italian market

**** shows a slight increase in drug prices(***). These data confirm the historical trend of the relationship between drug prices and inflation, generally declining in all European countries, but more rapidly in Italy.

Variation in medicine prices Italy-EU, ****-****, in % Source: ****

The graph above shows the change in medicine prices for different ...

4.2 The parapharmacies

Legislative Decree No. *** Article * of July *, ****, which opened the possibility of selling certain types of drugs outside of pharmacies to achieve economic and social revitalization, marked the birth of parapharmacies. Since its implementation, the number of parapharmacies has grown rapidly throughout the country, reaching **** units in ****.

Analyzing other distribution channels, we ...

4.3 Online commerce boom: double-digit growth

According to Iqvia data, in ****, the value of pharmacy e-commerce in Italy was about *** million euros, an acceleration of more than ** percent from the ** million in ****. According to forecasts, the Italian market will continue to grow, reaching €*** million in ****, while sales of €*** million are expected in ****. If these double-digit growth estimates ...

5 Regulations

5.1 Opening a pharmacy: rules and regulations

Pharmaceutical service is regulated in our country by a complex of regulations contained in different legislative sources that, over time, have come to overlap with each other. The main normative sources are:

R.D. **.**.****, no. **** "Testo Unico delle Leggi Sanitarie" R.D. **-*-**** No. **** "Approval of the regulations for the ...

6 Positioning of actors

6.1 Segmentation of actors

List of charts

  • Trends in global pharmaceutical market spending (against a backdrop of health crisis)
  • The global pharmaceutical market by geographic area
  • Market share of drugs and non-pharmaceuticals by segment
  • Evolution of the value and volume of the market for drugs and extrapharmaceuticals
  • Turnover generated by pharmacies
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Companies quoted in this study

This study contains a complete overview of the companies in the market, with the latest figures and news for each company. :

Farmaè
Bayer France
Bennet
Pulker Farma Parafarmacie

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